Ciena Corp ( CIEN )‘s stock price dropped by 4.64% at last check on Thursday after the company reported fiscal second-quarter 2025 results.

The Hanover, Maryland-based company reported a quarterly revenue growth of 23.6% year-on-year to $1.13 billion, beating the analyst consensus estimate of $1.09 billion.

The American telecommunications networking equipment and software services supplier reported adjusted EPS of 42 cents, missed the analyst consensus estimate of 52 cents.

Segments: Total Networking Platforms revenue rose by 28.1% Y/Y to $866.3 million, and Total Global Services increased by 8.5% Y/Y to $146.2 million.

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Margins: The adjusted gross margin declined by 250 bps to 41.0%, and the adjusted operating margin increased by 140 bps to 8.2%.

Two 10%-plus customers represented a total of 23.9% of revenue.

Ciena held $1.35 billion in cash and equivalents and generated $156.9 million in operating cash flow.

During the quarter, the company bought back approximately 1.2 million shares of common stock for an aggregate price of $84.3 million.

Price Action: CIEN stock is down 5.65% at $79.15 premarket at the last check Thursday.

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